EXHIBIT 99.2
| Market Price Snapshot 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 NYMEX NG 8.06 7.96 7.94 7.94 8.03 8.16 8.16 7.92 8.09 8.1 7.9 7.93 8.13 8.26 8.21 8.05 7.87 8.07 8.01 8.23 8.16 8.1 8.07 8.1 8.13 8.23 8.37 8.45 8.19 8.29 8.23 8.27 8.3 8.34 8.29 8.34 8.4 8.38 8.33 8.24 8.25 8.26 8.23 8.4 8.37 8.34 8.23 8.16 8.18 8.28 8.24 8.21 8.21 8.23 8.38 8.48 8.48 8.49 8.6 8.64 8.62 8.7 8.66 8.53 8.62 8.73 8.72 8.86 8.85 8.9 8.82 8.68 8.59 8.65 8.68 8.61 8.76 8.81 8.88 8.79 8.9 8.92 8.83 8.83 8.97 8.96 8.93 8.85 8.91 8.89 8.96 8.97 8.96 8.98 9.1 8.99 9 8.97 8.96 2009 NYMEX NG 7.83 7.76 7.77 7.76 7.84 7.92 7.91 7.76 7.9 7.91 7.75 7.75 7.9 7.9 7.86 7.69 7.59 7.75 7.72 7.85 7.75 7.69 7.67 7.7 7.77 7.86 7.97 8.02 7.86 7.96 7.91 7.93 7.93 7.95 7.84 7.87 7.95 7.96 7.97 7.94 7.99 8.02 7.99 8.12 8.09 8.08 7.99 7.96 7.96 8.05 8.01 7.99 7.99 8.03 8.16 8.19 8.18 8.2 8.26 8.29 8.27 8.33 8.32 8.22 8.3 8.4 8.42 8.47 8.48 8.54 8.47 8.38 8.33 8.38 8.42 8.35 8.49 8.52 8.59 8.53 8.6 8.61 8.54 8.54 8.67 8.66 8.64 8.59 8.66 8.66 8.69 8.7 8.7 8.7 8.76 8.67 8.69 8.68 8.69 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 NIHUB OP 60 59.97 59.63 59.5 59.92 60.54 60.79 59.29 59.17 59.29 58.91 58.79 59.66 60.29 60.29 59.29 58.28 59.54 58.81 60.05 59.58 59.67 59.15 59.24 59.9 60.17 60.68 61.1 59.8 59.92 60.17 59.8 60.55 60.45 60.55 60.3 60.55 61.05 60.55 60.43 60.53 60.63 60.67 61.42 61.42 61.42 61.05 60.55 60.55 61.05 60.92 60.8 60.55 61.05 62.04 62.39 62.44 62.92 63.55 64.05 64.42 64.87 65.12 64.37 64.87 65.62 65.62 66.22 66.62 66.27 66.37 65.37 65.37 65.37 65.34 65 66.12 66.5 67.12 67.07 67.57 67.6 67.22 67.32 67.87 67.67 67.5 67.38 67.38 68 68.63 68.88 68.75 68.88 69.5 69 69.25 69 69.08 2009 NIHUB OP 59.75 59.35 59.25 59 59.62 60.07 60.38 59.25 58.88 58.88 58.5 58.25 58.63 59.25 58.75 57.88 56.88 57.63 57.5 58.13 57.87 57.75 57.5 57.6 57.85 58.25 58.75 58.75 58.25 58.5 58.13 58.25 58.5 58 58 57.88 57.75 59 58.25 58.13 58.18 58.25 58.25 58.5 58.38 58.38 58.05 57.88 58.25 58.5 58.38 58.38 58.38 58.5 59.25 59.75 59.75 60 60.5 61.25 61.25 61.38 61.63 61.13 61.5 62 62.25 62.5 62.5 62.5 62.25 62.38 62.38 62.88 63.25 63.25 63.75 64 64.5 64.38 64.5 65 64.63 65 65.5 65.12 65.5 65.25 65.75 65.5 66 66.63 66.5 66.25 66.75 66.38 66.38 66.13 66.33 2008 PJMW OP 73.8 73.03 73.09 72.31 73.21 73.77 73.52 71.95 72.37 72.32 71.62 71.6 72.78 74.02 73.56 72.4 71.44 72.5 72.45 74.27 73.5 73.43 73.19 73.15 73.72 74.25 75.27 76.13 74.34 75.05 74.92 75.02 75.05 75.03 74.95 75.11 75.15 75.51 75.42 74.89 75.18 75.06 74.9 75.84 75.93 75.67 74.99 74.4 74.66 75.28 75.26 74.85 74.78 75.27 76.27 77.0 5 77.37 77.55 78.46 78.95 78.88 79.55 79.78 78.72 79.13 80.02 80.2 81.38 81.29 81.23 81.03 79.96 79.49 79.95 80.17 79.59 80.83 81.09 81.85 81.61 82.5 82.58 82.01 82.23 82.87 82.85 82.46 82.3 82.98 83.2 83.69 84.06 83.88 84.09 84.61 84.35 84.14 83.91 83.99 2009 PJMW OP 70.04 70.5 70.6 69.9 70.6 71.35 71.15 70 70.15 70.25 69.9 69.5 70.25 71.05 70.5 69.5 69 69.65 69.55 70.75 70.3 69.95 69.9 69.8 70.2 70.75 71.5 72 71.15 71.65 71.5 71.6 71.7 71.35 71.05 71.05 71.15 71.6 72 71.75 72.45 72.4 72.25 73.15 73.15 73.15 72.65 72.35 72.55 73 72.75 72.65 72.55 72.85 73.6 74.4 74.62 74.65 75.25 75.65 75.4 75.8 76 75.4 75.8 76.55 77 77.6 77.35 77.5 77.35 77.1 76.85 77.25 77.15 77.05 77.95 77.95 78.7 78.6 79.5 79.5 79.05 79.5 80 79.99 80 80.2 80.85 81.15 81.35 81.8 81.59 81.59 82 81.57 81.75 81.65 81.65 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 PJMW HR 9.16 9.18 9.2 9.11 9.11 9.04 9.01 9.08 8.95 8.93 9.06 9.03 8.95 8.96 8.95 8.99 9.07 8.99 9.05 9.02 9.01 9.06 9.07 9.03 9.07 9.03 8.99 9 9.08 9.05 9.1 9.07 9.04 9 9.04 9 8.94 9.01 9.06 9.09 9.11 9.09 9.1 9.03 9.08 9.08 9.11 9.12 9.12 9.09 9.14 9.12 9.11 9.15 9.1 9.09 9.12 9.14 9.12 9.14 9.15 9.15 9.21 9 ..23 9.18 9.16 9.19 9.18 9.18 9.12 9.19 9.21 9.25 9.24 9.23 9.25 9.23 9.21 9.22 9.29 9.27 9.26 9.29 9.32 9.24 9.24 9.24 9.3 9.31 9.35 9.34 9.38 9.36 9.37 9.3 9.38 9.35 9.36 9.37 2009 PJMW HR 8.94 9.08 9.08 9.01 9.01 9.01 9 9.02 8.88 8.88 9.02 8.96 8.89 8.99 8.96 9.03 9.09 8.99 9.01 9.01 9.07 9.09 9.12 9.06 9.04 9 8.97 8.97 9.05 9 9.04 9.03 9.05 8.97 9.06 9.03 8.95 9 9.04 9.03 9.06 9.03 9.04 9.01 9.04 9.06 9.09 9.09 9.11 9.07 9.09 9.09 9.08 9.07 9.02 9.08 9.12 9.1 9.11 9.12 9.12 9.1 9.14 9. 17 9.13 9.11 9.15 9.16 9.12 9.08 9.13 9.2 9.22 9.22 9.17 9.23 9.18 9.14 9.16 9.22 9.24 9.24 9.26 9.3 9.23 9.23 9.26 9.33 9.34 9.37 9.36 9.4 9.38 9.37 9.37 9.41 9.41 9.41 9.39 2008 2009 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 NIHUB HR 7.45 7.54 7.51 7.49 7.46 7.42 7.45 7.48 7.32 7.32 7.45 7.41 7.34 7.3 7.34 7.37 7.4 7.38 7.34 7.3 7.3 7.37 7.33 7.31 7.37 7.32 7.25 7.23 7.3 7.23 7.31 7.23 7.3 7.25 7.3 7.23 7.2 7.28 7.27 7.33 7.33 7.34 7.37 7.32 7.34 7.37 7.42 7.42 7.4 7.38 7.4 7.41 7.38 7.42 7.4 7.36 7.36 7.41 7.39 7.41 7.47 7.46 7.52 7.55 7.52 7.51 7.52 7.47 7.53 7.44 7.53 7.53 7.61 7.56 7.52 7.55 7.55 7.55 7.56 7.63 7.6 7.58 7.61 7.63 7.56 7.55 7.56 7.61 7.56 7.65 7.66 7.68 7.68 7.67 7.64 7.67 7.7 7.69 7.71 2009 NIHUB HR 7.63 7.64 7.62 7.6 7.61 7.58 7.63 7.63 7.45 7.44 7.54 7.51 7.42 7.5 7.47 7.52 7.49 7.44 7.45 7.4 7.47 7.51 7.5 7.48 7.45 7.41 7.37 7.32 7.41 7.35 7.35 7.35 7.38 7.29 7.4 7.35 7.27 7.42 7.31 7.32 7.28 7.27 7.29 7.21 7.22 7.23 7.26 7.27 7.31 7.27 7.29 7.31 7.3 7.28 7.26 7.29 7.3 7.32 7.33 7.38 7.41 7.37 7. 41 7.44 7.41 7.38 7.39 7.38 7.37 7.32 7.35 7.44 7.48 7.5 7.52 7.58 7.5 7.51 7.51 7.55 7.5 7.55 7.57 7.61 7.56 7.52 7.58 7.59 7.59 7.56 7.59 7.66 7.65 7.61 7.62 7.66 7.64 7.62 7.63 2009 2008 2008 PJM-West 2009 PJM-West 2009 Ni-Hub 2008 Ni-Hub As of July 20, 2007. Source: OTC quotes and electronic trading system. Quotes are daily. 2008 2009 Forward NYMEX Natural Gas PJM-West and Ni-Hub On-Peak Forward Prices PJM-West Implied Heat Rate Ni-Hub Implied Heat Rate |
| Market Price Snapshot 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 28.23 28.22 27.63 27.35 27.67 28.25 28.4 27.3 27.14 27.29 27.05 26.88 27.80568602 28.30107544 28.22107664 27.41045383 26.74483299 27.88434835 27.18213781 28.23362016 27.72026267 27.80832001 27.33135758 27.48045461 28.33094547 28.5713612 28.82773596 29.66308172 28.4890133 28.6952726 29.07556066 28.42026662 29.37086112 29.17039589 29.29047463 29.02027724 29.18910083 29.80948283 29.2091 0048 29.03963333 29.08971105 29.15978841 29.12680113 29.65738125 29.74737965 29.72738 29.32209244 28.8217083 28.8217083 29.32209244 29.1969964 29.10189984 29.07170386 29.32209244 29.81956757 29.65192087 29.97195182 30.0693213 30.49791574 30.90827484 31.4335403 31.80424189 31.82942464 31.40888252 31.77924233 32.45977983 32.03478739 32.52354082 32.75381969 32.42357797 32.52364693 31.60295588 31.60295588 31 ..12796433 31.13294656 30.78599009 31.71182644 32.13710315 32.76256581 32.61253058 33.11290071 33.13791922 33.01263717 33.1127112 33.66311834 33.41297118 33.16284297 33.34099254 33.33599263 33.57245009 34.4079392 34.53313856 34.60803643 34.53813847 35.23862998 34.79586808 34.91106762 35.04086373 35.16592198 2009 25.75 25.16 25.16 24.96 25.38 26.1 26.26 25.27 24.87 25 24.75 24.49 24.81034886 25.35534989 24.82535028 24.19034718 23.63034151 24.12186631 24.12686464 24.54186734 24.20686837 24.08686837 23.90686747 24.02686721 24.48686451 24.7832962 25.77828982 25.76828995 25.19829085 25.52828982 25.26337763 25.17838088 25.37838166 25.02837934 25.08837841 24.90337934 24.89837748 26.16837717 25.2983 7903 25.13905521 25.12905613 25.2790549 25.52905111 25.60905374 25.47905381 25.4090549 24.9090576 25.15405111 25.27905497 25.52905497 25.65405111 25.68405064 25.73404987 25.60405374 26.27905497 26.50926125 26.77925708 26.82973116 27.20519452 27.76519746 27.84519622 27.9109943 28.11599499 27.69099383 28.06099391 28.56099391 28.7859943 28.78599816 28.41100396 28.37100458 28.12100458 28.54100002 27.79101162 27.91601742 27.79102515 27.79102515 27.79103288 28.04103288 28.41603482 28.16103683 28.18103837 28.53604069 28.48353571 29.03853292 29.66353099 29.05353455 29.76352944 29.6585272 30.03352913 29.79301193 29.90801788 30.65801595 30.73301286 30.28801587 30.96301317 30.41897397 30.78896825 30.65896639 30.88896593 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 27.61895376 27.2 27.89 27.34 28.19 28.73 28.42 27.41 27.95 28.02 27.43 27.61 28.52 28.21761184 28.96894185 28.29758467 27.71443051 28.73557935 28.59839334 29.60831818 28.74129962 28.56598583 28.28887184 28.10005503 28.07195213 28.64630365 29.29363436 30.20565423 28.92056222 29.1283497 29.19022895 29.21846903 29.07393715 29.18791135 29.10630879 29.18599728 29.18525729 29.48710467 29.5 0291101 29.07406996 29.35681947 29.24258912 29.06384592 29.60576002 29.48863372 29.30332209 28.61633967 28.30371811 28.38525631 28.71368506 28.64961453 28.24292508 28.29261886 28.76878348 29.1161007 29.20049009 29.44335246 29.39747458 29.99828881 29.8343412 29.80036272 30.34975153 29.74633286 28.96003745 29.32718165 29.98324691 30.12338911 30.63033055 30.54330414 30.47118978 30.13803384 29.5717363 29.215819 29.34180645 29.63108036 28.98272048 29.98552983 30.34926077 30.88612507 30.85787291 31.52835764 31.60082987 31.37722674 31.5989484 32.12308031 32.0530794 32.02710459 31.88718625 32.40985914 32.40625688 31.89088115 33.17272461 32.92940759 33.12068991 33.44675535 33.31067043 33.09117515 32.92403633 33.05433125 2009 24.86390625 25.26 25.66 25.45 26.05 26.5 26.35 25.75 25.9 26.14 25.89 25.64 26.39 27.03738351 26.29404814 26.05148847 25.17837418 25.64944598 25.59737146 26.30040357 25.75317334 25.40160587 25.20449469 25.05537113 24.86074831 25.31193066 25.71457619 26.36611549 25.96286121 25.86375575 25.8936669 25.86334969 25.8142906 25.56159399 25.2614619 25.21344774 25.30523362 25.66792855 26.1661 3738 26.01751015 26.71738552 26.66714587 26.46756335 26.96987299 26.76759133 26.86948184 26.36948184 26.06430206 26.36638742 26.81742255 26.21599301 26.11599301 26.16307396 26.46341624 26.76399102 27.11350366 27.16528079 27.06592952 27.26794971 27.117419 26.91780187 27.16928794 26.82168171 26.97300957 27.17424122 27.42790535 27.82579818 28.03116574 27.67743657 27.82794193 27.3272995 27.37775282 27.11505019 27.01244923 26.9085024 26.7121009 27.41097807 27.51054525 27.85426283 27.75608153 28.3622859 28.51016765 28.35337636 28.6591488 28.96431556 28.9342537 29.06129286 29.25108948 29.39831961 29.6999557 29.63948375 29.83755242 29.62526553 29.75595817 30.20739117 29.52595391 29.96391155 29.86326879 30.16340951 Ni-Hub Spread Between On-Peak and Off-Peak Forward Prices 2008 2009 PJM-West Spread Between On-Peak and Off-Peak Forward Prices 2008 2009 As of July 20, 2007. Source: OTC quotes and electronic trading system. Quotes are daily. |
| Market Price Snapshot 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 7.77 7.69 7.68 7.68 7.77 7.9 7.89 7.65 7.81 7.82 7.66 7.69 7.89 7.99 7.94 7.77 7.6 7.79 7.74 7.97 7.89 7.83 7.8 7.83 7.86 7.96 8.11 8.19 7.92 8.01 7.95 7.99 8.02 8.06 8.02 8.07 8.13 8.1 8.05 7.96 7.96 7.96 7.91 8.08 8.07 8.04 7.93 7.86 7.88 7.98 7.94 7.91 7.92 7.94 8.09 8.19 8.19 8.19 8.31 8.35 8.3 8.38 8.34 8 ..23 8.32 8.44 8.42 8.56 8.55 8.6 8.52 8.38 8.3 8.35 8.39 8.36 8.51 8.56 8.63 8.54 8.65 8.67 8.55 8.55 8.69 8.69 8.65 8.57 8.65 8.63 8.7 8.69 8.69 8.71 8.83 8.72 8.72 8.69 8.69 2009 7.57 7.5 7.51 7.5 7.58 7.66 7.65 7.5 7.64 7.65 7.54 7.53 7.68 7.65 7.62 7.45 7.34 7.5 7.49 7.62 7.5 7.44 7.41 7.45 7.52 7.61 7.72 7.77 7.61 7.7 7.65 7.67 7.67 7.7 7.58 7.61 7.69 7.69 7.7 7.68 7.73 7.75 7.71 7.83 7.81 7.8 7.71 7.68 7.68 7.77 7.73 7.71 7.73 7.77 7.9 7.93 7.92 7.94 8 8.03 7.99 8.05 8.03 7.95 8 ..03 8.13 8.15 8.2 8.21 8.27 8.2 8.12 8.07 8.11 8.15 8.1 8.24 8.28 8.34 8.28 8.35 8.36 8.29 8.3 8.42 8.41 8.39 8.34 8.42 8.42 8.46 8.46 8.46 8.46 8.52 8.42 8.44 8.43 8.45 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 61.65 60.97 60.99 61.14 61.75 62.69 62.76 61 62.22 62.55 61.27 61.58 63.06 63.97 63.63 62.34 61.08 62.51 62.02 63.75 63.22 62.75 62.53 62.77 63 63.61 64.73 65.28 63.39 64.12 63.65 63.83 63.62 63.97 63.62 63.88 64.33 64.27 63.92 63.31 63.39 63.41 63.14 64.61 64.32 64.09 63.21 62.87 63.13 63.78 63.56 63.41 63.47 63.63 64.87 65.65 65 ..5 65.59 66.5 66.79 66.64 67.29 66.93 66.04 66.62 67.55 67.63 68.51 68.41 68.81 68.13 67.13 66.43 66.84 67.14 66.5 67.67 68.04 68.5 67.95 68.6 68.92 68.38 68.36 69.73 69.68 69.4 68.91 69.35 69.22 69.77 69.83 69.76 69.94 70.69 69.88 69.88 69.58 69.41 2009 60.15 59.84 60 60.08 60.36 60.92 60.88 59.82 60.84 61.16 60.15 60.25 61.31 61.22 60.97 59.63 58.93 60.08 59.87 60.89 60.13 59.66 59.47 59.74 60.28 60.9 61.72 62.05 60.94 61.66 61.25 61.36 60.85 61.1 60.21 60.34 60.89 61.06 61.21 61.07 61.48 61.65 61.43 62.53 62.28 62.16 61.45 61.36 61.5 62.08 61.85 61.77 61.88 62.19 63.21 63.53 63 ..24 63.46 63.93 64.2 63.99 64.54 64.34 63.73 64.21 65.02 65.33 65.52 65.6 66.01 65.48 64.88 64.47 64.82 65.1 64.55 65.68 65.89 66.31 65.97 66.39 66.55 66.14 66.2 67.39 67.36 67.19 66.92 67.43 67.43 67.73 67.83 67.78 67.84 68.08 67.4 67.53 67.36 67.38 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 7.93 7.93 7.94 7.96 7.95 7.94 7.96 7.97 7.96 7.99 8 8.01 7.99 8.01 8.01 8.02 8.04 8.02 8.01 7.99 8.01 8.01 8.01 8.01 8.01 7.99 7.98 7.97 8 8.01 8.01 7.99 7.93 7.93 7.94 7.92 7.91 7.94 7.94 7.95 7.97 7.97 7.98 8 7.97 7.98 7.97 8 8.01 8 8.01 8.02 8.02 8.02 8.01 8.02 8 8 8 8 8.03 8.03 8.03 8.02 8 8.01 8. 03 8 8 8 8 8.01 8.01 8 8.01 7.96 7.95 7.95 7.94 7.96 7.93 7.95 7.99 8 8.02 8.02 8.02 8.04 8.02 8.02 8.02 8.03 8.03 8.03 8.01 8.01 8.01 8.01 7.99 2009 7.95 7.98 7.99 8.01 7.96 7.95 7.96 7.97 7.96 8 7.98 8 7.98 8 8 8.01 8.03 8.01 8 7.99 8.02 8.02 8.02 8.02 8.02 8 7.99 7.98 8.01 8 8 8 7.94 7.94 7.94 7.93 7.92 7.94 7.95 7.96 7.95 7.95 7.97 7.99 7.97 7.97 7.97 7.99 8 7.99 8 8.01 8.01 8.01 8 8.01 7.99 8 7.99 7.99 8.01 8.02 8.01 8.01 7.99 8 8.01 7.99 7.99 7.98 7.98 7.99 7.99 7.99 7.99 7.97 7.97 7.96 7.95 7.97 7.95 7.96 7.98 7.98 8.01 8.01 8.01 8.02 8.01 8.01 8.01 8.02 8.02 8.02 8 8 8 7.99 7.98 2008 2009 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 52.59 51.93 52.08 52.19 52.79 53.57 53.73 52.28 53.35 53.72 52.63 52.8 54.12 54.97 54.57 53.47 52.4 53.7 53.28 54.72 54.38 53.99 53.79 53.99 54.18 54.8 55.84 56.37 54.61 55.28 54.88 55.15 55.12 55.4 55.09 55.42 55.78 55.63 55.31 54.82 54.89 54.92 54.52 55.98 55.86 55.66 54.95 54.65 54.85 55.33 55.26 55.08 55.15 55.28 56.43 57.05 5 7.09 57.11 57.91 58.17 58.04 58.35 58.08 57.18 57.64 58.4 58.42 59.26 59.16 59.51 58.93 58.02 57.37 57.74 58.01 57.47 58.47 58.8 59.22 58.69 59.17 59.58 59.24 59.18 60.21 60.18 59.94 59.55 59.89 59.78 60.28 60.4 60.34 60.53 61.32 60.63 60.63 60.43 60.37 2009 51.3 51.15 51.38 51.46 51.55 51.95 52.02 51.17 52.06 52.42 51.57 51.57 52.52 52.51 52.2 51.05 50.46 51.52 51.34 52.16 51.62 51.22 51.05 51.27 51.73 52.36 53.13 53.46 52.39 53.04 52.7 52.82 52.62 52.81 52.04 52.24 52.69 52.76 52.87 52.78 53.13 53.28 52.94 54.07 53.98 53.88 53.32 53.24 53.33 53.75 53.67 53.55 53.66 53.92 54.88 55.1 55.01 55.14 55.57 55.8 55.62 55.86 55.71 55.08 55.45 56.11 56.33 56.57 56.63 56.99 56.54 55.98 55.57 55.89 56.15 55.68 56.65 56.85 57.23 56.88 57.15 57.43 57.2 57.22 58.09 58.08 57.94 57.73 58.13 58.13 58.42 58.56 58.52 58.61 58.96 58.37 58.49 58.41 58.51 2009 2008 2008 2009 As of July 20, 2007. Source: OTC quotes and electronic trading system. Quotes are daily. 2008 2009 Houston Ship Channel Natural Gas Forward Prices ERCOT ATC Forward Prices ERCOT ATC v. Houston Ship Channel Implied Heat Rate ERCOT Wrap Forward Prices |
| Market Price Snapshot 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/15/2007 3/16/2007 3/19/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4 /27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/17/2007 5/18/2007 5/21/2007 5/22/2007 5/23/2007 2008 72.01 71.31 71.19 71.38 72.01 73.12 73.09 70.98 72.37 72.65 71.17 71.63 73.29 74.28 74 72.49 71.01 72.58 72.02 74.07 73.33 72.78 72.53 72.82 73.08 73.68 74.89 75.47 73.43 74.24 73.69 73.76 73.35 73.78 73.38 73.57 74.11 74.15 73.77 73.03 73.12 73.13 73 74.48 74 73.74 72.66 72.27 72.61 73.45 73.05 72.95 73 73.18 74.52 75.49 75.13 75.31 76.32 76.66 76.49 77.51 77.07 76.17 76.9 78.03 78.17 79.1 78.99 79.45 78.66 77.55 76.81 77.25 77.58 76.85 78.2 78.6 79.12 78.55 79.4 79.6 78.83 78.86 80.62 80.56 80.23 79.63 80.18 80.03 80.62 80.63 80.55 80.7 81.4 80.47 80.47 80.05 79.74 2009 70.05 69.73 69.82 69.89 70.4 71.13 70.97 69.67 70.83 71.1 69.92 70.14 71.31 71.13 70.97 69.4 68.57 69.83 69.58 70.82 69.82 69.27 69.06 69.39 70.02 70.64 71.5 71.83 70.69 71.48 71 71.08 70.23 70.54 69.52 69.56 70.22 70.52 70.71 70.51 70.99 71.17 71.1 72.16 71.73 71.6 70.71 70.61 70.8 71.56 71.17 71.14 71.24 71.6 72.7 73.13 72.61 72.93 73.44 73.75 73.51 74.42 74.16 73.59 74.18 75.18 75.57 75.71 75.82 76.28 75.66 75.01 74.59 74.98 75.29 74.66 75.97 76.19 76.65 76.32 76.9 76.93 76.32 76.44 77.98 77.94 77.73 77.37 78.01 78.02 78.33 78.39 78.31 78.34 78.46 77.68 77.82 77.55 77.47 ERCOT On-Peak Forward Prices 2008 2009 As of July 20, 2007. Source: OTC quotes and electronic trading system. Quotes are daily. |
| PJM RPM 2007/2008 & 2008/2009 RPM will have limited impact on Exelon's 2007 earnings due to current contracts and forward sales commitments Eastern MACC 2007/2008 RPM auction: $197.67/MW-day 2008/2009 RPM auction: $148.80/MW-day Rest of Market 2007/2008 RPM auction: $40.80/MW-day 2008/2009 RPM auction: $111.92/MW-day Southwest MAAC 2007/2008 RPM auction: $188.54/MW-day 2008/2009 RPM auction: $210.11/MW-day 2007/2008 System Total CTR Value = 4,599 MW 2008/2009 System Total CTR Value = 5,128 MW 2007/2008 System Total CTR Value = 5,134 MW 2008/2009 System Total CTR Value = 4,717 MW ExGen Capacity (1) Exelon Generation Capacity Obligation (2) Exelon Generation Capacity Obligation (2) Exelon Generation Capacity Obligation (2) ExGen Capacity (1) Obligation 2007/08 2008/09 Rest of Market 16,000 MW (3) IL Auction 6,600 - 6,800 MW 6,600 - 6,800 MW Eastern MAAC 9,500 MW PECO PPA 9,000 - 9,300 MW 9,000 - 9,300 MW Eastern MAAC 9,500 MW NJ BGS 480 - 525 MW 480 - 525 MW Southwest MAAC 0 MW N/A 0 MW 0 MW RPM = Reliability Pricing Model CTR = Capacity Transfer Rights (1) All values are approximate. (2) Not inclusive of all wholesale transactions. (3) 2008/2009 ExGen Rest of Market Capacity decreases to 15,100MW due to the roll-off of several PPAs. |